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A Standard Document from a law firm to a current or former client waiving conflicts of interest that arise in representing a prospective client whose interests conflict with the interests of the current or former client.
Rule 1.7 forbids a lawyer from representing a client in a matter (a) that is directly adverse to or (b) that would present a significant risk that the representation would be ?materially limited? by the lawyer's responsibilities or relationship with another client, a former client, a third party, or the lawyer's own ...
How To Write a Good (And Ethical) Conflict Of Interest Waiver Identify the conflict of interest. ... Describe the workaround. ... Describe the upside of the client(s) waiving the conflict of interest. ... Describe the downside to the client(s) waiving the conflict of interest. ... Get it in writing. ... Take it home!
Former client, the lawyer will have acquired confidential information material to the new matter and will be prohibited from representing the new client unless the former client gives informed written consent.
An example of a conflict that may be waived is where a lawyer represents a lender in some transactions but represents a borrower in an unrelated loan with the lender. In this scenario, the lawyer cannot undertake the representation without the informed consent of both the lender and the borrower.